Crypto analyst Jaydee recently highlighted a six-year trendline that could be significant for the XRP price potential move to the upside. Interestingly, the crypto token could already be set for a parabolic move, considering it has already broken this trendline.
XRP Price Breaks Out From Six-Year Trendline
Jaydee confirmed in an X (formerly Twitter) post that XRP finally broke out from the six-year trendline he had alluded to earlier. In his earlier X post, he mentioned that a breakout from that trendline would be “massive” for XRP’s price. From the accompanying chart he shared, he hinted at XRP rising to as high as $3 when this breakout occurs (which it already did).
If so, this imminent XRP rally coincides with crypto analyst Crypto Rover’s prediction that XRP would experience a “massive breakout” in March. Rover’s prediction is, however, more conservative as he hinted at the crypto token rising to just above $1 when this happens.
Meanwhile, a significant rally from XRP right now will provide further optimism that crypto analyst Egrag Crypto’s prediction that XRP will rise to $5 by April can truly be actualized. Indeed, XRP has seen some form of resurgence lately, with the crypto token up by over 18% in the last seven days.
A rise above $1 will also be significant, as XRP has not traded above that level since 2021. The crypto token wasn’t even able to hit the $1 mark when the court ruled it wasn’t a security in itself last year. It will also serve as a reward for XRP investors who have continued to hold the crypto token even when its price was stagnant for the longest time.
XRP Trading Below $1 Might Soon Be A Thing Of The Past
Crypto analyst Egrag Crypto has also fuelled the revived bullishness on the XRP token. He suggested in an X post that XRP trading below the $1 mark would be a thing of the past if the crypto token were to achieve multiple closes above $1.3 “convincingly.” XRP rising to $1.3 would also pave the way for the token to hit all targets that Egrag highlighted.
Egrag’s most bullish price prediction for XRP heading into this bull cycle remains at the $27 mark. He once mentioned that this was a “plausible target” since XRP price saw a 61,000% gain in 280 days back in 2017.
At the time of writing, XRP is trading at around $0.64, up over 4% in the last 24 hours, according to data from CoinMarketCap.
XRP price at $0.65 | Source: XRPUSD on Tradingview.com
Featured image from U.Today, chart from Tradingview.com
